FACTBOX-China regulator okays state-brokered nuclear deal

Reuters Staff

4 Min Read

BEIJING, Jan 31 (Reuters) - China's state asset regulator on
Wednesday approved the proposed merger of China Nuclear
Engineering & Construction (CNEC) and China National Nuclear
Corp (CNNC), forming a company with assets worth about $100
billion and a workforce of 150,000.
The tie-up is the latest state-orchestrated union in the
nation's vast power sector, twinning the country's main nuclear
power engineering and construction firm with its second-largest
producer of nuclear power.
Here are some details about the two companies based on their
websites and filings:
China National Nuclear Corp (CNNC):
The company has a total installed capacity of 14.34
gigawatts (GW) of nuclear power from 17 units in coastal
provinces of Zhejiang, Jiangsu, Fujian and Hainan. It has
another 8 nuclear power units that are still under construction.
It is the second-largest nuclear power producer after China
General Nuclear Power Corp, which has 20 reactor units and 21.47
GW of capacity.
Projects Technology No. of Capacity Total
units per unit capacity
Zhejiang Qinshan CNP300 1 310MW 310MW
phase I
Zhejiang Qinshan CNP600 4 650MW 2,600MW
phase II
Zhejiang CANDU700 2 728MW 1,456MW
Qinshan phase III
Zhejiang CNP100 2 1,089MW 2,178MW
Fangjiashan
Jiangsu Tianwan VVER1000 2 1,060MW 2,120MW
Fujian Fuqing M310 4 1,089MW 4,356MW
Hainan Changjiang CNP600 2 650MW 1,300MW
It has a workforce of around 100,000 people.
It owns three listed units including China National Nuclear
Power Co, CNNC International and SUFA
Technology Industry Co.
CNNC has either built or agreed to build nuclear energy
projects in Pakistan, Brazil, Saudi Arabia and Argentina.
Apart from nuclear energy, CNNC also engages in uranium
product trading and solar and wind power generation.
In the first half of 2017, CNNC had total assets of 497.76
billion yuan ($79.06 billion).
China Nuclear Engineering & Construction (CNEC):
State-owned CNEC is China's top builder of nuclear power
plants and the only eligible installer of equipment in the
nuclear island (NI), which is the core part of a nuclear power
unit that generates steam from nuclear fission.
The company had total assets of 123.8 billion yuan ($19.7
billion) in 2016, with income standing at 46.37 billion yuan
($7.36 billion).
With a workforce of 41,348, CNEC has built 11 nuclear energy
plants in China and overseas, including Chashma nuclear power
plants and Karachi nuclear power plants in Pakistan.
($1 = 6.2962 Chinese yuan)
(Reporting by Muyu Xu and Josephine Mason; additional reporting
by David Stanway, Editing by Sherry Jacob-Phillips)